Ofo pedals into South Korea

Chinese bike-sharing titan Ofo Inc announced Thursday it is pedaling its way to South Korea, as the company ramps up efforts to expand its booming bicycle empire to overseas markets.

The move came shortly after the firm completed its ambitious global to land in 200 cities by the end of last year, as it aimed to gain new momentum in the global markets.

The Beijing-based company said it will conduct various small-scale pilot launches in Busan, the second-largest city in South Korea, to allow the firm to better understand local users and help new users to familiarize themselves with the system.

Lawrence Cao, head of Ofo’s Asia Pacific business, said in line with South Korea’s "car-lite" goal, the company’s dockless shared bikes would help relieve traffic congestion and subway crowds.

"We are excited to be starting 2018 with a launch in South Korea, our 21st market," Cao added. "Cycling is also an ideal and inclusive way for the local community and tourists alike to enjoy South Korea’s natural wonders and much-cherished heritage and culture."

According to Seoul Traffic Vision 2030, the government aims to build an advanced transportation network in the city that is people-oriented, all-sharing and environmentally friendly. To achieve the goal, it is expected to reduce the car travel by 30 percent and shorten commuting time by public transport by 30 percent.

Ofo said with its global experiences in the bike-sharing sector, it expected to bring a positive impact to the mobility sector in South Korea and tackle the last-mile problem. Local users can report indiscriminate parking and cases of bad user behavior to Ofo via the company’s Facebook page, app or the 24-hour customer email support and hotline.

Founded in 2014, Ofo offers riders convenient bike-sharing services that allow users to rent, ride and park the dockless bikes anywhere they prefer, while complying the local regulations.

Ofo currently operates more than 10 million bikes in over 250 cities across 21 countries. It has generated 32 million daily transactions and provided bike-rental services for 200 million global users.